GBP/JPY Equity Building Profitable trading strategies

[rrram2]

206.12 or 205.96 should provide ST support for the run back up to and maybe through 206.50.

Trust me on this...we are going to blow through 206.50 toiday and regain 208.00
if all goes well.

[4xStar]

Originally Posted by rrram2

Again I want to thank Andrew and mytwo pips for contributing and we always need that opposing view and maybe I will learn to heed what they say more and master this buying of longs closer to the support level.

OK, now that makes sense .. I could not figure out why you wanted to buy at such high levels, but now I see it is not really what you want to do .. just as an incorigible scalper, you havn't got the hang of mastering the retracements yet
I've been following this in demo account .. so far up $45k in just over a week. That is trading full lots in an account with $500k play money .. so no worries about margin calls.
Real life will be different, but this is giving me a feel for how it works .. it is almost too simple .. BUT .. ya need to wait for those retracements before buying into the next round IMHO.

I have my 'loss leaders' as Elijah puts it, at 209.32, five of them. I will keep them as a curiosity to see what happens longer term, even though I expect after hitting the 206.50 we will see a significant retracement to the 203's again. My next round of buys will start down there.

I won't go short .. I would not be that disloyal

[rrram2]

It will be a while before we head back towards 203.

Originally Posted by 4xStar

OK, now that makes sense .. I could not figure out why you wanted to buy at such high levels, but now I see it is not really what you want to do .. just as an incorigible scalper, you havn't got the hang of mastering the retracements yet
I've been following this in demo account .. so far up $45k in just over a week. That is trading full lots in an account with $500k play money .. so no worries about margin calls.
Real life will be different, but this is giving me a feel for how it works .. it is almost too simple .. BUT .. ya need to wait for those retracements before buying into the next round IMHO.

I have my 'loss leaders' as Elijah puts it, at 209.32, five of them. I will keep them as a curiosity to see what happens longer term, even though I expect after hitting the 206.50 we will see a significant retracement to the 203's again. My next round of buys will start down there.

I won't go short .. I would not be that disloyal

[4xStar]

Originally Posted by rrram2

It will be a while before we head back towards 203.

mmm.. it is struggling here .. and cable was hit hard around 9am eastern .. anyone know what happened?

[4xStar]

I must say, my Vegas Geisha (my nickname for her) appears not to be intimidated by cable weakness, holding up really well here .. it will be interesting to see which way she breaks from this 15' consolidation. I still say down, I'm sure Elijah will say up, up & up.

[HAUGHT007]

i vote UP!

[cadarkitek]

Originally Posted by 4xStar

I must say, my Vegas Geisha (my nickname for her) appears not to be intimidated by cable weakness, holding up really well here .. it will be interesting to see which way she breaks from this 15' consolidation. I still say down, I'm sure Elijah will say up, up & up.

This pair moves with USDJPY, the £ has nothing on it really. Good US news/US going up against JPY, this pair will go up and vice-versa. It doesn't matter how weak the £ is. Look at both charts side by side and you'll see what i'm saying.

[mytwopips]

Originally Posted by cadarkitek

This pair moves with USDJPY, the £ has nothing on it really. Good US news/US going up against JPY, this pair will go up and vice-versa. It doesn't matter how weak the £ is. Look at both charts side by side and you'll see what i'm saying.

Not always.

Most of the time, like you said, she looks just like the U/J chart with just greater range. But sometimes, just like a woman, she will change her mind and act more like the cable.

[4xStar]

Originally Posted by mytwopips

Not always.

Most of the time, like you said, she looks just like the U/J chart with just greater range. But sometimes, just like a woman, she will change her mind and act more like the cable.

women change their minds??

[4xStar]

Originally Posted by HAUGHT007

i vote UP!

The Vegas Geisha is not democratic

An' down she goes (for now...)